Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
Penalty u/s 271(1)(c) - During the course of reassessment proceedings when the assessee came to known that the exemption was claimed incorrectly the assessee himself withdrew the claim and paid due taxes along with interest amount - concealment of income is quite different from furnishing of inaccurate particulars of income. - No penalty - AT
Penalty u/s 271(1)(c) - During the course of reassessment proceedings when the assessee came to known that the exemption was claimed incorrectly the assessee himself withdrew the claim and paid due taxes along with interest amount - concealment of income is quite different from furnishing of inaccurate particulars of income. - No penalty - AT
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